Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) said it has eliminated approximately 237,615 outstanding warrants tied to a March 2021, 2025 financing arrangement through an amendment agreement with all five participating investors.
The warrants, exercisable for 64,489 shares of Class A common stock upon remaining closings, were terminated in December 2025. An additional 173,126 shares linked to investors' rights to receive warrants were also removed under the amendment. The company disclosed the changes in a Form 8-K filing on January 2, 2026, and provided further details in a subsequent filing on August 21, 2026.
The amendment avoids nearly 40% of the potential maximum dilution from the March 21, 2025 financing round, based on a $5 conversion floor price. It also includes a partial transfer of investment commitments and adjustments to the remaining closing arrangements under the original Securities Purchase Agreement.
Jerry Wang, Executive Chairman of Faraday Future, stated that the amendment represents a step toward capital value restoration. The company, founded in 2014 and based in California, focuses on artificial intelligence-driven robotics, including automotive applications.
